March 14, 2018
Atlanta – REO Fund 2 LLC and Transwestern’s Atlanta Agency Leasing team today announce they secured a new lease for 60,402 square feet with Newell Brands Inc. at Morgan Falls Office Park, a five-building office complex at 7840 Roswell Road in Sandy Springs, Georgia. Garett Backman, Manager of Owner, REO Fund 2 LLC, and Transwestern Senior Vice President Jeff Taylor completed the lease transaction with Newell Brands on behalf of ownership.
Newell Brands, a global marketer of consumer and commercial products with a portfolio of brands including Yankee Candle, Rubbermaid, and Sharpie, will occupy almost all of Building 100, a three-story property.
“Morgan Falls Office Park’s location on Roswell Road with quick access to Georgia State Route 400 and several amenities appealing to today’s workforce makes it an ideal location for office users,” said Taylor. “The addition of Newell Brands creates increased synergies between the companies currently located in the office park. Ultimately, the completion of the complex transaction resulted in a win-win for both the landlord and the tenant.”
Atlanta continues to experience business growth and favorable economic fundamentals that are outperforming the nation. With positive absorption and decreasing vacancy, which posted 14.3 percent as of fourth quarter 2017 according to research by Transwestern, office demand is strengthening in Metro Atlanta’s North Fulton submarket.
“We have renovated the common areas and restrooms to give our occupants and visitors a warm and inviting space with a contemporary feel,” said Backman. “This is a great location right in the heart of Sandy Springs and near the Northridge Georgia 400 Interchange. The businesses within Morgan Falls Office Park enjoy ample parking and proximity to numerous restaurants, banks, and other conveniences.”
Backman elaborated on the importance of honoring the local culture in the park’s aesthetics, saying, “To celebrate our heritage and location, we have installed numerous original framed photographs, purchased mainly from the Booth Museums Photographers Guild. The photographs are all from southern locals. In addition we have installed in the lobbies original artworks from southern artists, including an oil painting of the face of a cheerful, curios cow, a mixed-media photograph of an ocean scene, and other original sculptures and mixed media.”
CBRE represented the tenant, Newell Brands, during the transaction.
ABOUT REO FUND 2
Garett Backman is the operating manager of REO Fund 2. Garett and his brother Charles have been managing, developing and renovating office buildings, apartments retail projects and in town high end homes since 1981. They have been investors and developers of real estate in Massachusetts, Tennessee, Georgia, South and North Carolina. They sponsor and bring investors into their real estate projects.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Southeast region, follow @TranswesternSE.